SEC Form 4 · accession 0000920522-16-000115
ESSEX PROPERTY TRUST, INC. · ESS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael J Schall
Officer — President and CEO
Period of report
Jul 5, 2016
Accepted (ET)
Jul 7, 2016 · 4:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000920522
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Jul 5, 2016 | M | 7,000 | $143.03 | A | 47,954 | D | |
| Common Stock | Jul 5, 2016 | M | 3,000 | $132.03 | A | 50,954 | D | |
| Common StockF2 | Jul 5, 2016 | S | 7,000 | $218.03 | D | 43,954 | D | |
| Common StockF3 | Jul 5, 2016 | S | 3,000 | $232.03 | D | 40,954 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Purchase)F2 | $143.03 | Jul 5, 2016 | M | 7,000 | D | Dec 11, 2012 | Dec 11, 2019 | Common Stock | 7,000 | 20,500 | D |
| Stock Option (Right to Purchase)F3 | $132.03 | Jul 5, 2016 | M | 3,000 | D | Dec 6, 2011 | Dec 6, 2021 | Common Stock | 3,000 | 7,000 | D |
Explanation of responses
- F1The transactions reported in this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 12, 2016.
- F2Under the option terms, the maximum value that the reporting person could receive is $75 per share. 10% of these options vested on December 11, 2012, the date of the grant, and 20% of these options vest each year through 2016 with the remaining 10% vesting in 2017. Column 9 includes as of the date hereof unvested options of 16,500 shares.
- F3Under the option terms, the maximum value that the reporting person could receive is $100 per share. 10% of these options vested on December 6, 2011, the date of the grant, and 20% of these options vest each year through 2015 with the remaining 10% vesting in 2016. Column 9 includes as of the date hereof unvested options of 2,000 shares.